2026-09-19T02:03:40Zhttps://dspace.mit.edu/server/oai/requestoai:dspace.mit.edu:1721.1/178072022-01-28T21:54:03Zcom_1721.1_7582com_1721.1_7581col_1721.1_131023
John D. Sterman.
Lee, TaeSoo, 1960-
Massachusetts Institute of Technology. Management of Technology Program.
Management of Technology Program.
Sloan School of Management
2005-06-02T18:45:02Z
2005-06-02T18:45:02Z
2004
2004
http://hdl.handle.net/1721.1/17807
56556995
Thesis (S.M.M.O.T.)--Massachusetts Institute of Technology, Sloan School of Management, Management of Technology Program, 2004.
Includes bibliographical references (leaves 112-113).
The tanker industry covers all business related with trading tankers in which there are many participants: vessel owners, charterers, shipbuilders, scrappers, consultants, capitalists, brokers, insurers, surveyors, agents, repairing shops, manning companies, and vendors etc. The industry exhibits the characteristics of commoditization driven by price. As the industry is significantly affected by the chartering market, I will herein focus on the chartering market and its movements, in order to better understand the industry. The structure of the market creates recurring cycles and instability. Also, the key elements affecting this market are highly interrelated. Characteristically, long delays of these key elements make the market more uncertain and more volatile. The purpose of this thesis is to study the dynamic of the oil tanker industry, in particular chartering market, using system dynamics methodology. A simulation model will illuminate the following:* Driving forces on the commoditized industry, Nature of the dynamics and structural behaviorsm, Effects of key elements on freight rates
by TaeSoo Lee.
S.M.M.O.T.
113 leaves
5399110 bytes
5410663 bytes
application/pdf
application/pdf
eng
Massachusetts Institute of Technology
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http://dspace.mit.edu/handle/1721.1/7582
Management of Technology Program.
The dynamics of the oil tanker industry
Thesis
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<Abstract>The tanker industry covers all business related with trading tankers in which there are many participants: vessel owners, charterers, shipbuilders, scrappers, consultants, capitalists, brokers, insurers, surveyors, agents, repairing shops, manning companies, and vendors etc. The industry exhibits the characteristics of commoditization driven by price. As the industry is significantly affected by the chartering market, I will herein focus on the chartering market and its movements, in order to better understand the industry. The structure of the market creates recurring cycles and instability. Also, the key elements affecting this market are highly interrelated. Characteristically, long delays of these key elements make the market more uncertain and more volatile. The purpose of this thesis is to study the dynamic of the oil tanker industry, in particular chartering market, using system dynamics methodology. A simulation model will illuminate the following:* Driving forces on the commoditized industry, Nature of the dynamics and structural behaviorsm, Effects of key elements on freight rates</Abstract>
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